Buyer Demand Remains High & the Average Sale Price is UP vs Last Year for the 2nd Week in a Row!

Buyer Demand Remains High & the Average Sale Price is UP vs Last Year for the 2nd Week in a Row!

• For the second straight week, the Average Sale Price surpassed last year's number.  We ended up +0.7% vs the same time Last Year.
  
  
• Despite continued high mortgage rates (6.5%, at best - with most lenders above 7% for the 30-year fixed), the number of New Transactions remained on the High end of what we've been seeing for the past 10 weeks.
  
  
• Still no significant change in the number of bank owned and pre-foreclosure properties on the market.  The weekly numbers of "Notices of Default" (the first step in the foreclosure process) have continued at very low numbers.